METZGER & COMPANY AND ECI GROUP ANNOUNCE THEIR JOINT VENTURE

City Walk Apartments, Charlottesville, Virginia

Atlanta-based Metzger & Company, Inc. and Atlanta-based ECI Group have entered into a joint venture to meet the rising demand for rental housing in Charlottesville, Virginia.  The site is located within the downtown business district of this historic city.

The 301 unit community will consist of one 5-story building with 229 units and 3/4-story splits with 24 units each.  The 5-story building will have an attached 5-level parking deck, while the other three buildings will have surface parking and share the structured parking.  The large building will contain two interior exposed courtyards:  one with a resort-style pool and grilling area and the other having two seating areas with grills and a fire pit.  Additional amenities will include an upscale fitness center, business center, conference room, internet cafe, walking trails and a bike path.  The property will be state of the art while aesthetically keeping the style that has made Charlottesville so special to all who have visited this beautiful spot.

The community will be co-developed by Metzger & Company and ECI Capital, Inc., built by Summit Contractors out of Jacksonville, FL, financed through Berkadia Commercial Mortgage and will be managed by MCO Management, Inc.